Quantifying the daily economic impact of extreme space weather due to failure in electricity transmission infrastructure

Extreme space weather due to coronal mass ejections has the potential to cause considerable disruption to the global economy by damaging the transformers required to operate electricity transmission infrastructure. However, expert opinion is split between the potential outcome being one of a temporary regional blackout and of a more prolonged event. The temporary blackout scenario proposed by some is expected to last the length of the disturbance, with normal operations resuming after a couple of days. On the other hand, others have predicted widespread equipment damage with blackout scenarios lasting months. In this paper we explore the potential costs associated with failure in the electricity transmission infrastructure in the U.S. due to extreme space weather, focusing on daily economic loss. This provides insight into the direct and indirect economic consequences of how an extreme space weather event may affect domestic production, as well as other nations, via supply chain linkages. By exploring the sensitivity of the blackout zone, we show that on average the direct economic cost incurred from disruption to electricity represents only 49% of the total potential macroeconomic cost. Therefore, if indirect supply chain costs are not considered when undertaking cost-benefit analysis of space weather forecasting and mitigation investment, the total potential macroeconomic cost is not correctly represented. The paper contributes to our understanding of the economic impact of space weather, as well as making a number of key methodological contributions relevant for future work. Further economic impact assessment of this threat must consider multiday, multiregional events.The authors acknowledge partial financial support from American International Group during the research and especially thank Brad Fischtrom, Siddhartha Dalal, and their team for providing useful comments and insights as the research progressed. We also thank attendees of the workshop held at the Cambridge Judge Business School in July 2015. Three anonymous reviewers are acknowledged for providing useful comments and feedback on the paper. Oughton was partially supported by the UK Engineering and Physical Science Research Council under grant EP/N017064/1: Multiscale InfraSTRucture systems AnaLytics. Horne and Thomson would like to acknowledge the support of the Natural Environment Research Council (NERC). This paper is published by permission of the Executive Director, British Geological Survey (NERC)

On the Considerations of Using Near Real Time Data for Space Weather Hazard Forecasting

Space weather represents a severe threat to ground-based infrastructure, satellites and communications. Accurately forecasting when such threats are likely (e.g., when we may see large induced currents) will help to mitigate the societal and financial costs. In recent years computational models have been created that can forecast hazardous intervals, however they generally use post-processed “science” solar wind data from upstream of the Earth. In this work we investigate the quality and continuity of the data that are available in Near-Real-Time (NRT) from the Advanced Composition Explorer and Deep Space Climate Observatory (DSCOVR) spacecraft. In general, the data available in NRT corresponds well with post-processed data, however there are three main areas of concern: greater short-term variability in the NRT data, occasional anomalous values and frequent data gaps. Some space weather models are able to compensate for these issues if they are also present in the data used to fit (or train) the model, while others will require extra checks to be implemented in order to produce high quality forecasts. We find that the DSCOVR NRT data are generally more continuous, though they have been available for small fraction of a solar cycle and therefore DSCOVR has experienced a limited range of solar wind conditions. We find that short gaps are the most common, and are most frequently found in the plasma data. To maximize forecast availability we suggest the implementation of limited interpolation if possible, for example, for gaps of 5 min or less, which could increase the fraction of valid input data considerably

The BGS magnetic field candidate models for the 11th generation IGRF

We describe the British Geological Survey’s 11th generation International Geomagnetic Reference Field candidate models. These models are based on a 'parent model' consisting of a degree and order 60 spherical harmonic expansion of selected vector and scalar magnetic field data from satellite and observatory sources within the period 1999.0 to 2010.0. The parent model’s internal field time dependence for degrees 1 to 13 is represented by linear spline with knots 400 days apart. The parent model’s degree 1 external field time dependence is described by periodic functions for the annual and semi-annual signals, and by dependence on the 20-minute Vector Magnetic Disturbance index. Signals induced by these external fields are also parameterised. Satellite data are weighted according to two noise estimators. Firstly by standard deviation along segments of the satellite track and secondly a larger-scale noise estimator defined in terms of a vector activity measure at the geographically closest magnetic observatories to the sample point

Prepare for the coming space weather storm

This article argues that research is urgently needed to improve our understanding of the occurrence rates of severe geomagnetic storms. It was written in response to an invitation from the journal Nature and published in their Comments series, which is intended to stimulate debate on future research needs. The article reviews our current understanding of these storms and the threat that they pose to technologies that underpin critical national infrastructures (e.g. power grids, satellite-based services, …). It also outlines current efforts to mitigate the risks posed by geomagnetic storms, both though better engineering that builds more robust infrastructures and through development of better warning systems that exploit current scientific skills to monitor, and forecast the arrival at Earth of, the solar ejecta that cause severe geomagnetic storms. Finally the article outlines areas in which research can further improve these scientific skills, e.g. improved access to historical datasets, better physics-based modelling, more complete understanding of the physics at work in severe events

Quantifying the daily economic impact of extreme space weather due to failure in electricity transmission infrastructure

Extreme space weather due to coronal mass ejections has the potential to cause considerable disruption to the global economy by damaging the transformers required to operate electricity transmission infrastructure. However, expert opinion is split between the potential outcome being one of a temporary regional blackout and of a more prolonged event. The temporary blackout scenario proposed by some is expected to last the length of the disturbance, with normal operations resuming after a couple of days. On the other hand, others have predicted widespread equipment damage with blackout scenarios lasting months. In this paper we explore the potential costs associated with failure in the electricity transmission infrastructure in the U.S. due to extreme space weather, focusing on daily economic loss. This provides insight into the direct and indirect economic consequences of how an extreme space weather event may affect domestic production, as well as other nations, via supply chain linkages. By exploring the sensitivity of the blackout zone, we show that on average the direct economic cost incurred from disruption to electricity represents only 49% of the total potential macroeconomic cost. Therefore, if indirect supply chain costs are not considered when undertaking cost-benefit analysis of space weather forecasting and mitigation investment, the total potential macroeconomic cost is not correctly represented. The paper contributes to our understanding of the economic impact of space weather, as well as making a number of key methodological contributions relevant for future work. Further economic impact assessment of this threat must consider multiday, multiregional events.The authors acknowledge partial financial support from American International Group during the research and especially thank Brad Fischtrom, Siddhartha Dalal, and their team for providing useful comments and insights as the research progressed. We also thank attendees of the workshop held at the Cambridge Judge Business School in July 2015. Three anonymous reviewers are acknowledged for providing useful comments and feedback on the paper. Oughton was partially supported by the UK Engineering and Physical Science Research Council under grant EP/N017064/1: Multiscale InfraSTRucture systems AnaLytics. Horne and Thomson would like to acknowledge the support of the Natural Environment Research Council (NERC). This paper is published by permission of the Executive Director, British Geological Survey (NERC)

Quantifying the daily economic impact of extreme space weather due to failure in electricity transmission infrastructure

Extreme space weather due to coronal mass ejections has the potential to cause considerable disruption to the global economy by damaging the transformers required to operate electricity transmission infrastructure. However, expert opinion is split between the potential outcome being one of a temporary regional blackout and of a more prolonged event. The temporary blackout scenario proposed by some is expected to last the length of the disturbance, with normal operations resuming after a couple of days. On the other hand, others have predicted widespread equipment damage with blackout scenarios lasting months. In this paper we explore the potential costs associated with failure in the electricity transmission infrastructure in the U.S. due to extreme space weather, focusing on daily economic loss. This provides insight into the direct and indirect economic consequences of how an extreme space weather event may affect domestic production, as well as other nations, via supply chain linkages. By exploring the sensitivity of the blackout zone, we show that on average the direct economic cost incurred from disruption to electricity represents only 49% of the total potential macroeconomic cost. Therefore, if indirect supply chain costs are not considered when undertaking cost-benefit analysis of space weather forecasting and mitigation investment, the total potential macroeconomic cost is not correctly represented. The paper contributes to our understanding of the economic impact of space weather, as well as making a number of key methodological contributions relevant for future work. Further economic impact assessment of this threat must consider multiday, multiregional events